Axon Enterprise, Inc $AXON Position Boosted by Danske Bank A S

Key Points

• Institutional investors boosted positions: Danske Bank raised its stake by 6.8% to 58,973 shares (~$33.5M), while large holders like Vanguard (9.37M shares) and Baillie Gifford (added ~1.52M shares) help push institutional ownership to about 79.08%.
• Company insiders have been selling: CEO Patrick W. Smith sold 10,000 shares at $500.24 (~$5.0M) and CAO Jennifer H. Mak sold 1,500 shares at $573.45, with insiders offloading 13,855 shares (~$7.11M) last quarter and owning ~4.4% of the stock.
• Axon reported a beat and draws analyst optimism: Q4 EPS was $2.15 (vs. $1.60 est.) and revenue was $796.7M (+38.5% YoY), and analysts show a Moderate Buy consensus with a $749.63 average price target (16 Buys, 2 Holds, 1 Sell).

Danske Bank A S raised its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,973 shares of the biotechnology company's stock after acquiring an additional 3,753 shares during the quarter. Danske Bank A S owned approximately 0.07% of Axon Enterprise worth $33,493,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Axon Enterprise by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company's stock valued at $5,319,928,000 after acquiring an additional 53,060 shares in the last quarter. Baillie Gifford & Co. grew its stake in Axon Enterprise by 1,198.7% during the 4th quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company's stock valued at $932,869,000 after acquiring an additional 1,516,099 shares in the last quarter. Jennison Associates LLC grew its stake in Axon Enterprise by 53.8% during the 3rd quarter. Jennison Associates LLC now owns 943,944 shares of the biotechnology company's stock valued at $677,412,000 after acquiring an additional 330,213 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Axon Enterprise by 23.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 838,289 shares of the biotechnology company's stock valued at $476,089,000 after acquiring an additional 156,647 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Axon Enterprise by 1.6% during the 3rd quarter. Northern Trust Corp now owns 743,926 shares of the biotechnology company's stock valued at $533,871,000 after acquiring an additional 11,726 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company's stock.

Insider Transactions at Axon Enterprise

In related news, CEO Patrick W. Smith sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $500.24, for a total value of $5,002,400.00. Following the completion of the sale, the chief executive officer directly owned 3,090,997 shares in the company, valued at approximately $1,546,240,339.28. The trade was a 0.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Jennifer H. Mak sold 1,500 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $573.45, for a total value of $860,175.00. Following the transaction, the chief accounting officer owned 12,240 shares of the company's stock, valued at approximately $7,019,028. This trade represents a 10.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 13,855 shares of company stock worth $7,109,828. 4.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AXON shares. William Blair reissued an "outperform" rating on shares of Axon Enterprise in a research note on Tuesday, February 3rd. Northcoast Research raised Axon Enterprise from a "neutral" rating to a "buy" rating and set a $742.00 price target for the company in a research note on Tuesday, January 6th. Craig Hallum reissued a "buy" rating and issued a $820.00 price target on shares of Axon Enterprise in a research note on Wednesday, February 25th. Barclays lowered their price target on Axon Enterprise from $702.00 to $682.00 and set an "overweight" rating for the company in a research note on Wednesday, February 25th. Finally, Wall Street Zen raised Axon Enterprise from a "sell" rating to a "hold" rating in a research note on Saturday, February 28th. Sixteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Axon Enterprise has an average rating of "Moderate Buy" and a consensus price target of $749.63.

Axon Enterprise Stock Up 0.1%

AXON opened at $402.31 on Friday. The business has a 50 day moving average price of $454.05 and a 200 day moving average price of $535.39. Axon Enterprise, Inc has a twelve month low of $339.01 and a twelve month high of $885.91. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.29 and a current ratio of 2.53. The firm has a market cap of $32.41 billion, a P/E ratio of 264.68, a price-to-earnings-growth ratio of 8.57 and a beta of 1.44.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.55. Axon Enterprise had a return on equity of 2.82% and a net margin of 4.48%.The firm had revenue of $796.72 million during the quarter, compared to analyst estimates of $755.29 million. During the same period in the previous year, the company earned $2.08 EPS. The company's revenue for the quarter was up 38.5% on a year-over-year basis. Research analysts forecast that Axon Enterprise, Inc will post 1.41 EPS for the current year.

About Axon Enterprise

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company's hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.

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